00881cam2 22002531 450 SOBE0004332820140520092047.020140520d1931 |||||ita|0103 baitaIT<<6: >>Storie Fiorentine dal 1378 al 1509Francesco Guicciardinia cura di Roberto PalmarocchiBariLaterza1931441 p.24 cm001E6002000049152001 Opere / Francesco GuicciardiniPalmarocchi, RobertoA600200027775070ITUNISOB20140520RICAUNISOBUNISOB850|Coll|8|K60809SOBE00043328M 102 Monografia moderna SBNM850|Coll|8|K000065SI60809rovitoUNISOBUNISOB20140520091953.020140520092014.0rovitoStorie Fiorentine dal 1378 al 15091711524UNISOB05422nam 2200661Ia 450 991046198470332120200520144314.01-4755-5432-X1-4755-0709-7(CKB)2670000000278941(EBL)1606943(SSID)ssj0000943250(PQKBManifestationID)11558983(PQKBTitleCode)TC0000943250(PQKBWorkID)10975265(PQKB)10109579(MiAaPQ)EBC1606943(Au-PeEL)EBL1606943(CaPaEBR)ebr10627162(OCoLC)870244998(EXLCZ)99267000000027894120121206d2012 uy 0engurcn|||||||||txtccrSovereign debt restructurings 1950 - 2010[electronic resource] literature survey, data, and stylized facts /Udaibir S. Das, Michael G. Papaioannou, and Christoph TrebeschWashington, D.C. International Monetary Fundc20121 online resource (129 p.)IMF working paper ;WP/12/203Description based upon print version of record.1-4755-8253-6 1-4755-0553-1 Includes bibliographical references.Cover; Contents; I. Introduction; II. Basic Concepts; A. What is a Sovereign Debt Restructuring?; B. What is the Difference Between Default and Restructuring?; C. Restructurings and Credit Events; D. "Haircuts" and Calculation of Debt Relief; Figures; 1. A Stylized Example-Total Debt Service Before and After; III. The Process of Sovereign Debt Restructuring; A. Key Elements in a Debt Restructuring Process; 2. Stylized Timeline of a Sovereign Debt Restructuring; B. Restructuring Bilateral Debt: The Paris Club; Tables; 1. Overview of Debt Restructuring Vehicles by Type of Creditor2. Paris Club Creditors in Selected Restructurings C. Restructuring Bank Loans: The London Club; Boxes; 1. The Brady Plan; 3. Selected Bank Advisory Committees since the 1980's (London Club Process); D. Sovereign Bond Exchanges; 4. Negotiating with Sovereign Bondholders; E. The Duration of Debt Renegotiations; 3. Restructuring Duration by Type of Debt; F. Pitfalls in the Restructuring Process; IV. Sovereign Debt Restructurings 1950-2010: An Overview; A. When and How Often Was Sovereign Debt Restructured?; 4. Foreign Debt Restructurings by Country (1950-2010)5. Debt Restructurings with Paris Club and Private Creditors 6. Bank Loan versus Bond Restructurings (1950-2010); 7. Restructurings with Face Value Debt Reduction (Nominal Write-Offs); B. Characteristics of Bond and Bank Debt Restructurings Since 1998; 5. Characteristics of Main Sovereign Debt Restructurings with Foreign Banks and Bondholders, 1998-2010; C. Financial and Macroeconomic Conditions During Restructuring Episodes; D. Evolution of Credit Ratings During Restructuring Episodes; 8. Financial and Macroeconomic Indicators in Restructuring Periods6. Sovereign Ratings in Nine Recent Bond Restructurings9. Ratings Evolution during Sovereign Restructuring Episodes; V. Legal Aspects of Sovereign Debt Restructurings; A. Governing Laws; 7. Emerging Market Sovereign Bonds by Governing Law; 10. Bond Issuance in Main Emerging Markets 2003-2010, by Governing Law; 11. Public Bond Issuance in EU Countries 2003-2010, by Governing Law; B. Collective Action Clauses; C. Further Key Bond Clauses; 8. Legal Characteristics of Sovereign Bond Restructurings (1999-2009); D. Creditor Litigation Against Debtor Governments12. Creditor Litigation after Defaults/Restructurings: New Cases Filed per Year VI. Domestic Sovereign Debt Restructurings; A. Evidence on Domestic Debt Restructurings; 2. The Domestic Restructuring in Jamaica 2010; B. Evidence on Restructurings in a Monetary Union; C. Restructuring "Quasi-Sovereign" Debt; 3. Recent "Quasi-Sovereign" Debt Restructurings; VII. Credit Default Swaps and Sovereign Debt Restructurings; A. The Settlement of Sovereign CDS Contracts; B. Potential Distortions: Insurable Interest and the "Empty Creditor" ProblemVIII. Costs and Implications of Sovereign Debt Restructurings: A SurveyThis paper provides a comprehensive survey of pertinent issues on sovereign debt restructurings, based on a newly constructed database. This is the first complete dataset of sovereign restructuring cases, covering the six decades from 1950-2010; it includes 186 debt exchanges with foreign banks and bondholders, and 447 bilateral debt agreements with the Paris Club. We present new stylized facts on the outcome and process of debt restructurings, including on the size of haircuts, creditor participation, and legal aspects. In addition, the paper summarizes the relevant empirical literature, analIMF Working PapersDebt reliefDebtor and creditorElectronic books.Debt relief.Debtor and creditor.Das Udaibir S860107Papaioannou Michael G933501Trebesch Christoph873361MiAaPQMiAaPQMiAaPQBOOK9910461984703321Sovereign debt restructurings 1950 - 20102463490UNINA